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REGISTERED NUMBER: 10163752 (England and Wales)




































FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MAY 2023

FOR

KATNIC SERVICES LIMITED
TRADING AS
SURFACE MEDIC (SALISBURY)

KATNIC SERVICES LIMITED (REGISTERED NUMBER: 10163752)
TRADING AS SURFACE MEDIC (SALISBURY)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


KATNIC SERVICES LIMITED
TRADING AS SURFACE MEDIC (SALISBURY)

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2023







DIRECTOR: N C Kantharia



REGISTERED OFFICE: Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR



REGISTERED NUMBER: 10163752 (England and Wales)



ACCOUNTANTS: Compass Accountants Limited
Chartered Accountants
Venture House
The Tanneries
East Street
Titchfield
Hampshire
PO14 4AR



BANKERS: Lloyds Bank plc
Birmingham OSC, Ariel House
2138 Coventry Road
Sheldon
B26 3JW

KATNIC SERVICES LIMITED (REGISTERED NUMBER: 10163752)
TRADING AS SURFACE MEDIC (SALISBURY)

BALANCE SHEET
31ST MAY 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 6,563 3,440
6,563 3,440

CURRENT ASSETS
Debtors 6 16,092 43,825
Cash at bank 2,664 1,194
18,756 45,019
CREDITORS
Amounts falling due within one year 7 14,202 13,444
NET CURRENT ASSETS 4,554 31,575
TOTAL ASSETS LESS CURRENT
LIABILITIES

11,117

35,015

CREDITORS
Amounts falling due after more than one
year

8

(3,333

)

(4,933

)

PROVISIONS FOR LIABILITIES (1,247 ) (731 )
NET ASSETS 6,537 29,351

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 6,437 29,251
SHAREHOLDERS' FUNDS 6,537 29,351

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

KATNIC SERVICES LIMITED (REGISTERED NUMBER: 10163752)
TRADING AS SURFACE MEDIC (SALISBURY)

BALANCE SHEET - continued
31ST MAY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 1st February 2024 and were signed by:





N C Kantharia - Director


KATNIC SERVICES LIMITED (REGISTERED NUMBER: 10163752)
TRADING AS SURFACE MEDIC (SALISBURY)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2023


1. STATUTORY INFORMATION

Katnic Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Revenue for the provision of services is recognised when it is probable that an economic benefit will flow to the entity and the revenue and associated costs can be reliably measured. For continuing services, revenue is recognised when the stage of completion can be reliably measured.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

KATNIC SERVICES LIMITED (REGISTERED NUMBER: 10163752)
TRADING AS SURFACE MEDIC (SALISBURY)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


2. ACCOUNTING POLICIES - continued

Basic financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, where there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

The company's financial assets and liabilities consist of cash and cash equivalents, short term investments, trade and other debtors, trade and other creditor, and accrued expenses. The fair value of these items approximates their carrying value due to their short term value. Unless otherwise noted, the company is not exposed to significant interest, foreign exchange or credit risks arising from these instruments.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. INTANGIBLE FIXED ASSETS
Franchise
£   
COST
At 1st June 2022
and 31st May 2023 16,000
AMORTISATION
At 1st June 2022
and 31st May 2023 16,000
NET BOOK VALUE
At 31st May 2023 -
At 31st May 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1st June 2022 655 4,063 117 4,835
Additions 3,528 4,854 - 8,382
Disposals - (4,063 ) - (4,063 )
At 31st May 2023 4,183 4,854 117 9,154
DEPRECIATION
At 1st June 2022 340 1,016 39 1,395
Charge for year 961 1,213 38 2,212
Eliminated on disposal - (1,016 ) - (1,016 )
At 31st May 2023 1,301 1,213 77 2,591
NET BOOK VALUE
At 31st May 2023 2,882 3,641 40 6,563
At 31st May 2022 315 3,047 78 3,440

KATNIC SERVICES LIMITED (REGISTERED NUMBER: 10163752)
TRADING AS SURFACE MEDIC (SALISBURY)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2023


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors - 13,296
Other debtors 16,092 30,529
16,092 43,825

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 1,600 1,600
Taxation and social security 11,310 11,074
Other creditors 1,292 770
14,202 13,444

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans 3,333 4,933

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
100 Ordinary £1 100 100

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31st May 2023 and 31st May 2022:

31.5.23 31.5.22
£    £   
N C Kantharia
Balance outstanding at start of year 25,936 10,028
Amounts advanced 25,493 40,688
Amounts repaid (39,327 ) (24,780 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 12,102 25,936

This loan was provided with interest and is repayable upon demand.